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20080~043 Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property, and that the Property is unencumbered, except for encumbrances of record. . Borrower covenants that Borrower warrants and will defend generally the title to the Property against all claims and demands, subje~t to encumbrances of record. Borrower and Lender covenaD;ts al!ree as follows: UNIFORM COVENANTS, 1. Payment of Principal. Borrower shall pay when due the principal of the debt. evidenced by the Note. 2. Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time of payment of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the 'Original Borrower or Borrower's successor in interest. Lender shall not be I!equired to commence p:J;"oceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 3. Successors and Assigns Bound; Joint and Several Liability; co~signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. Borrower's covenants and agreements shall be joint and several. Any Borrower who co.-signs this Security Instrument but does. not execute the Note: (a) is co~signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is . not personally obligated .to pay the sums, secured by this Security Instrument; and (c) agrees that Lender an any other Borrower may agree to extend, modify, forbear or make ariyaccomrnodations with regard to the term of thi~ Security Instrument or the Note without that Borrower's consent. . 4. Notices. Any notice to BorrQwerprovided fo~ ip, this S~curity InstnlJ;nent shall be given by delivering it by maUing it by first class mail unless applicable law requires use of another method. The noticeshaJl be directed to the . Property Address. Or any other address Borrower designates by notice to Lender. Any notice to Lender shall be givenby first class mail to: . U.S. Department of HUD C/O C&L Service CorporationIMorris Griffin Corporation 2488 E. 81st St., Ste. 700 Tulsa, OK 74137 or any address Lender designates by notice to Borrower. Anynotice provided for in this Security Instrument shall be deemed to have been given tQBorroweror Len.der when given as provided in this paragraph.. . 5. Governing Law; Severability. This Security Instrument shall be gqvemed by Federal law .and the law of the jurisdiction ill which the Property isJocated.Jntheevent . Pale 2 of 6 . .. .lnit.al~~ ...______.____n__.___."'_',._"."'., .__,."'.,_~..:..._,______:.;__''''"''',N:.' ._..."',._,_~.._.___________,_~__._"'_,